Bulk Shanghai Joins 2020 Bulkers

The 300-meter-long bulker, which commenced a 13-year bareboat
charter with 2020 Bulkers, is owned by Norwegian shipping company
Ocean Yield.

Two further vessels are expected to be delivered by January 2020,
and the remaining two vessels are expected to be delivered by May
2020.

The vessel will on November 9, 2019, commence a 11-13 month
index-linked timecharter with ST Shipping, a 100% owned
subsidiary of Glencore.

Starting January 1, 2020, the vessel will also earn an additional
premium related to the fuel cost saving from the scrubber.

2020 Bulkers has four vessels in operation and four Newcastlemax
drybulk vessels under construction at New Times Shipyard in
China. All vessels will be fitted with exhaust scrubber systems.
The remaining newbuildings are expected to be delivered by May
2020.

Ocean Yield ASA is a ship owning company with investments in
vessels on long-term charters.